cash equity retained and flexibility, page-11

Thanks for the feedback on this one. No doubt the announcement was a summary of a significant document so more story to be told.
Agree Good Oil risk reduced in an expensive game. All eyes ahead and looking forward to see how IMC add value and grow there investment assuming it goes unconditional.
Note equity remains at 40% until option excercised and clause x (b) indicates past costs recovered, can we assume a proportionate share of cost going forward?
Also should Nido find a major in the Deep can KIK under clause x (c)offer equity to that deal up until to 1 Jan 09?